Gender Pay Gap

To deliver our purpose of supporting different perspectives to enhance our firm’s performance and wider contributions, data helps us target our actions and measure progress. ICG’s gender pay gap disclosures, in line with UK regulation at 5 April 2026, provides a stronger understanding of the shape and profile our workforce.

Gender pay gap at 5 April 2026

UK entity: Intermediate Capital Group plc

Pay Gap		% of Employees Receiving a Bonus		Bonus Pay Gap
Mean	Median	Male	Female	Mean	Median
22.9%	21.1%	84.6%	81.1%	62.2%	52.3%

Mean hourly pay gap

2022	2023	2024	2025	2026
35.7%	34.4%	30.3%	29.6%	22.9%

Mean bonus pay gap

2022	2023	2024	2025	2026
77.2%	74.3%	70.2%	73.2%	62.2%

Hourly pay and bonus gaps

The mean hourly pay gap has reduced steadily over time, and both the pay gap and bonus gap have decreased in the most recent financial year, as shown in the table above.

There has been a change in distribution of males and females across the Group, however, given our relatively small headcount, small year-on-year changes in headcount particularly at senior levels can have a significant impact on our gender pay gap.

We also note that the vast majority of high-paying awards are highly deferred in the form of Deferred Share Awards (DSA), PLC Equity Awards and Deal Vintage Bonus (DVB). Therefore, our year-on-year gender pay gap comparison can change significantly as a function of long-term incentives granted several years ago and only being paid out now. As a result, whilst the underlying make-up of the firm continues to evolve towards greater balance, this is not necessarily reflected in the gender pay gap.

Data as at 5 April 2026

ICG's commitment to addressing our gender pay gap

What are we doing about our gender pay gap?

We are progressing a number of initiatives to support our aims to improve the gender balance at all levels of the organisation and impact our gender pay gap. Several of these initiatives are now well established.

Showing our commitment

As a signatory to the Women in Finance Charter, we continue to exceed our aspiration of achieving 30% women in UK senior management roles by 2027, with representation at 33% as at 31 March 2026.

Recruiting and retaining diverse talent

Inclusive Recruitment training and guidance is available to anyone involved in hiring. It focuses on objective, fair and inclusive recruitment across all stages.

We continue to work with external recruitment partners to extend the reach of our search and selection activities to bring in the best talent from the broadest range of backgrounds. We work with executive search firms that are signatories to the standard voluntary code of conduct for executive search firms.

Our early careers programmes focuses on broadening reaching and enhancing opportunities to access our industry from under-represented groups.

Our Women’s Development Programme is in place for high potential mid- to senior-level women and includes mentoring to help develop expertise, address areas of interests, improve connectivity to our business strategy and people from different backgrounds.

Our Women’s Network, Evolve aims to advocate for and influence change to achieve gender equity. It encourages the development of fulfilling careers for women at ICG and facilitates inclusive relationships to ensure that women feel supported across the business.

In January 2026, ICG hosted its inaugural Women in Investments global off-site, bring together almost 60 female investors across the firm’s teams. Through direct engagement with ICG’s faculty of leaders, the event strengthened professional networks, encouraged open conversations about excellence and career building in investments.

Colleagues can participate in a number of industry initiatives, including 100 Women in Finance, a global initiative to increase the pool of talented women in our sector. ICG is a sponsor and active participant in Level 20, which provides mentoring and development support to women in investment positions. We also sponsor the Diversity & Inclusion series with UK Private Capital.

We proactively engage with employees through our annual employee pulse survey and review the insights by gender to understand opportunities for improvement.

Participants networking at ICG's inaugural Women in Investments global off-site, held in 2026

Women in Investments global off-site, 2026

Cultivating a culture of inclusion

We are focused on creating a culture in which our colleagues are able to fulfil their individual potential as well as contribute to our collective goals.

Learning around inclusive environments is also provided at different levels. All new joiners are given an opportunity to explore what an inclusive culture looks like in practice and the role everyone has in maintaining and enhancing it. This is done through facilitated discussions in our Inclusion workshops which are part of our onboarding programme. Our new people manager toolkit equips managers with dedicated resources to create inclusive environments, grounded in the understanding and valuing of diverse perspectives, supporting colleagues to collaborate effectively and succeed as high-performing teams. Our ‘Leading for Impact’ programme for senior leaders has inclusion principles embedded throughout the content.

In addition, we track a number of Inclusion measures within our annual employee engagement survey to better understand career experiences and to help identify where further action is needed.

We have introduced policies to enable more employees to balance their work and family lives, including family building, carers leave, menopause leave and pregnancy loss policies.

We recognise that a sense of community and wellbeing at work are integral contributing factors to the success of ICG. Our employee networks contribute significantly to the employee experience at ICG, underpinning our inclusive culture. They are global, employee-led and bring people together who share identities, interests and ambitions for personal development and progress on inclusion. In addition to Evolve, which aims to support and create opportunities for women at ICG and in the wider industry, we have networks covering: cultural and ethnic heritage and differences; respect and equality for everyone regardless of sexual orientation or gender identity; social mobility; early careers; family and carers; and disability, sport and wellbeing. The networks also collaborate with each other, ICG people more widely, and their counterparts at other organisations, on topics of common interest.

We are committed to working together to make ICG a more diverse and inclusive organisation that we can all be proud of. More information, including on our policies, employee initiatives and networks can be found within the our Inclusion section.

We recognise that some of these actions may mean that our gender pay gap numbers fluctuate even as more women take on roles across the organisation, but our goal is to ensure that we achieve sustainable progress to our diverse representation over the longer-term.

Board Room in ICG's London office, with seats around a large table and other buildings seen out of the window beyond

We confirm that all the information we have disclosed is accurate and our statistics have been calculated according to the requirements of The Equality Act 2010 (Gender Pay Gap Information) Regulations 2017. Figures reviewed and verified by Willis Towers Watson.

Benoît Durteste
Chief Investment Officer and Chief Executive Officer, ICG plc